Franklin Electric Co., Inc. $FELE Position Lowered by Redmond Asset Management LLC

Redmond Asset Management LLC cut its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 70.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,530 shares of the industrial products company’s stock after selling 8,500 shares during the period. Redmond Asset Management LLC’s holdings in Franklin Electric were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Franklin Electric in the second quarter worth $698,173,000. Bank of America Corp DE purchased a new position in Franklin Electric during the second quarter valued at $82,970,000. Legal & General Group Plc purchased a new position in Franklin Electric during the second quarter valued at $33,805,000. Bank of New York Mellon Corp purchased a new position in Franklin Electric during the second quarter valued at $33,230,000. Finally, Medina Value Partners LLC purchased a new position in Franklin Electric during the second quarter valued at $25,122,549. 79.98% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Franklin Electric

Here are the key news stories impacting Franklin Electric this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Franklin Electric reported adjusted EPS of $1.50, above the $1.40 analyst consensus and up from $1.30 a year earlier. Revenue rose 8.9% year over year to $633.62 million, surpassing expectations of $617.19 million. Franklin Electric Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Challenge Pumps acquisition expands mining exposure. Franklin Electric agreed to acquire Australia-based Challenge Pumps for approximately $181 million, with the transaction value potentially reaching $195 million. Management expects the deal to be accretive to earnings in 2027, providing a potential growth catalyst and strengthening the company’s presence in mining-related pumping markets. Franklin Electric to Buy Challenge Pumps
• Positive Sentiment: Full-year earnings guidance is slightly above the midpoint of estimates. Franklin Electric expects 2026 adjusted EPS of $4.62 to $4.82, representing a midpoint of $4.72 versus the $4.67 consensus estimate. Franklin Electric 2026 EPS Outlook
• Neutral Sentiment: Management will participate in upcoming investor conferences. The events may provide additional information about demand trends, the Challenge Pumps integration and the company’s outlook, but the announcement itself does not change financial forecasts. Franklin Electric Investor Conferences

Franklin Electric Stock Up 0.1%

FELE stock opened at $96.74 on Friday. The business has a 50 day moving average of $98.57 and a 200 day moving average of $100.20. The firm has a market cap of $4.28 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.71 and a beta of 1.03. Franklin Electric Co., Inc. has a twelve month low of $89.54 and a twelve month high of $115.82. The company has a quick ratio of 1.10, a current ratio of 2.33 and a debt-to-equity ratio of 0.30.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Wednesday, October 28th. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.40 by $0.10. Franklin Electric had a return on equity of 15.45% and a net margin of 8.83%. The business had revenue of $633.62 million for the quarter, compared to the consensus estimate of $617.19 million. During the same period in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Franklin Electric Co., Inc. will post 4.70 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, November 5th. Franklin Electric’s dividend payout ratio (DPR) is currently 32.28%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Franklin Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Robert W. Baird set a $130.00 price target on shares of Franklin Electric in a research note on Thursday. DA Davidson reissued a “neutral” rating and set a $105.00 price target on shares of Franklin Electric in a research report on Wednesday, September 9th. Finally, Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Sunday, October 25th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $117.50.

About Franklin Electric

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.